Abstract
The article examines the trends in the movement of global foreign direct investment that have developed over the past decade. It is noted that FDI flows are characterized by high volatility, as well as a decrease in the relative contribution to the growth of world GDP and investment in fixed assets compared to previous periods. The reasons are the decrease in the role of tangible assets in external flows, the change in the forms of doing business in the context of digitalization, the strengthening of protectionist trends against the background of the crisis caused by the epidemic and the unfolding geopolitical conflicts. These processes lead to fragmentation of investment flows and their regionalization. They have a negative impact on international investment in economic development and on the achievement of the Sustainable Development Goals, especially in developing countries.